1/4 Yicai: “China’s macro leverage ratio – a measure of total debt relative to nominal GDP – rose by 11.8 percentage points to 302.3 percent in 2025, exceeding the 10.1 point increase recorded in 2024, according to a new research report by CASS. https://www.yicaiglobal.com/news/chinas-debt-ratio-tops-300-last-year-despite-slowing-growth-think-tank-says